Ranesh Bajaj shares his change mantra at Print Summit

Ranesh Bajaj focussed on where there "a series of small upgrades made to a company’s existing products, services, or methods” was important or “a simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand."

Bajaj talked about the need for Indian print converters to go global. And how exactly does he feel this will happen? And more importantly, when. Bajaj also touched upon an issue that most Indian entrepreneurs in India feel bogged down by. This is "infrastructural shortcomings and lack of easy finance". Bajaj requested delegates to think out-of-the-box to be able to grow at a pace in order to beat their counterparts in China. “We don’t have to be China+1. We are strong enough and smart enough to stand alone and become India+1. The infrastructure in India is improving, and the ease of doing business has shown a big change. In 2015-16, we ranked 170, today we are around 70. That’s a gain of 100 places. That’s a great enabler.”

On the point of whether expansion has to be product or geographical, Bajaj was of the opinion that geographical expansion has its advantages. Giving an example of Printmann Group, Bajaj said, the company began as a commercial printer, but expanded over time, entering into labels and packaging. The advantage is that you offer the entire range of products to your clients, who are happy to deal with one company. From a company point of view, one has lesser accounts and relationships to manage.”

Bajaj said, adding, there is a certain scale to which one can stretch. “Beyond that going geographical is much easier.”

How, asked Nanavaty, to which Bajaj gave the example of Parksons Packaging. “Once you have learned the nuances of producing the whole product range, it makes it easy to replicate the whole process in different places. Parksons does that across five plants in India.”

Bajaj also advised the audience to not limit themselves to just within the country. “I know of Indian companies, most of whom are our customers, who invested in African countries, and the Middle East, and are successful.”

Nanavaty also discussed the two strategies – incremental innovation and Blue Ocean. It all depends on the appetite for risk when it comes to Blue Ocean strategy, said Bajaj. “Blue Ocean is always great. It gives keeps you ahead of time. You have to innovate and keep ahead of your competition. But as I said, it's filled with risk.”

Bajaj gave his own example, where he invested Rs 10-crore in a cold storage business which failed. “That said, Blue Ocean doesn't have to be totally different. A printer deals with a lot of software related to the printing business. Stop calling yourself a printer. Call yourself a print service provider or whatever, you know, do the software part of it, do the digitisation part of it, do the connection for the customer,” Bajaj said.

Bajaj also addressed the issue of "using technology to bridge the digital world with the physical world with the purpose of providing a unique interactive experience for the user." Also, he said, it is important how a print converter "makes use of technology to create a digital experience that is user–friendly and seamless for the customer."

Vinsak's manufacturing division has seen strong growth. Recently, the group added an R&D department and will increase its production capacity by 50% in the financial year 2022-2023. Also, Vinsak plans to increase its floor area by 50% by the end of the year. Among Vinsak's focus area is products like high-build systems and digital foiling systems.